This latest appointment extends Northern Trust’s existing 10 year relationship with Legal & General.
The custodian bank will service Legal & General Investments’ range of unit trusts, including equity, fixed income, index tracking, property, cash and asset allocations funds for professional advisors and wealth managers.
Legal & General Investments COO Mike Boardman said they decided to consolidate all their fund accounting and custody with Northern Trust following an extensive review of their options.
"We wanted a partner that could not only meet our requirements for accurate and timely fund pricing today but also one that could be expected to meet our needs going forward," Boardman added.
Legal & General is a provider of risk, savings and investment management products in the UK and currently has over 6.9 million customers for life assurance, pensions, investments and general insurance plans.
Legal & General Investments offers a range of unit trusts, including equity, fixed income, index tracking, property, cash and asset allocation funds for professional advisers and wealth managers.
